PPL (NYSE:PPL) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating in a report issued on Tuesday, Marketbeat Ratings reports. They presently have a $30.00 price objective on the utilities provider’s stock. Macquarie’s price objective indicates a potential downside of 7.46% from the company’s previous close.
A number of other brokerages have also commented on PPL. Zacks Investment Research lowered shares of PPL from a “buy” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine upgraded shares of PPL from a “hold” rating to a “buy” rating in a report on Friday, September 1st. KeyCorp reiterated a “hold” rating on shares of PPL in a report on Friday, October 20th. SunTrust Banks began coverage on shares of PPL in a report on Tuesday, October 10th. They set a “buy” rating and a $43.00 price target on the stock. Finally, Canaccord Genuity reiterated a “buy” rating and set a $48.00 price target on shares of PPL in a report on Thursday, November 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.65.
Shares of PPL (NYSE:PPL) traded down $1.55 during trading hours on Tuesday, hitting $32.42. 7,645,851 shares of the stock were exchanged, compared to its average volume of 3,381,173. The firm has a market capitalization of $22,710.00, a price-to-earnings ratio of 14.72, a PEG ratio of 2.22 and a beta of 0.48. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.79. PPL has a 52 week low of $32.40 and a 52 week high of $40.20.
A number of hedge funds have recently added to or reduced their stakes in PPL. Cutler Capital Management LLC acquired a new position in PPL in the third quarter valued at $114,000. Parallel Advisors LLC lifted its holdings in PPL by 7.6% in the second quarter. Parallel Advisors LLC now owns 4,570 shares of the utilities provider’s stock valued at $175,000 after buying an additional 321 shares during the period. Green Square Capital LLC bought a new stake in PPL in the third quarter valued at $215,000. Pinebridge Investments L.P. bought a new stake in PPL in the second quarter valued at $224,000. Finally, Cable Hill Partners LLC increased its stake in PPL by 5,417.6% in the third quarter. Cable Hill Partners LLC now owns 6,566 shares of the utilities provider’s stock valued at $249,000 after purchasing an additional 6,447 shares in the last quarter. Institutional investors and hedge funds own 71.24% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “PPL (PPL) Downgraded by Macquarie to Underperform” was published by American Banking and Market News and is the property of of American Banking and Market News. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at https://www.americanbankingnews.com/2017/12/19/ppl-ppl-downgraded-by-macquarie-to-underperform.html.
PPL Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.
